Canal+ intends to keep MultiChoice listed in the JSE meaning they're not attempting a complete takeover and it was reported earlier in the year that Patrice Moshepe is also in the running to help finalize this acquisition. According to Africa Intelligence, the French broadcaster is looking for another business partner to finalize this acquisition.
This does lead some to wonder how much of a stake Patrice Moshepe is willing to invest in MultiChoice if some were to guess probably around 15%-30% based on the company's financial performance they are put in a position where they can declare bankruptcy and Canal+ is the only thing giving those shares value.
Canal+ is trying to comply with local legislation by capping their rights to DStv and Showmax at 20% and with the help of Patrice Moshepe they have indirect influence over the daily operations of those services. If Patrice Moshepe is investing a small stake he probably sees the same thing former shareholders Public sees in MultiChoice - a decline in value.
For years on end, several shareholders at MultiChoice were throwing away their shares looking to take their money elsewhere and most of these shares likely went under French hands. Their remaining partners Allan Gray and The Vanguard Group have a combined total of 7% with former partner Public Investment Corporation sitting at 11%.
One can only assume that when the acquisition is complete, Canal+ will look at cutting back at some of these ventures as MultiChoice is sitting with 10 and these include DStv, GOtv, Showmax, SuperSport and M-Net. So if they were looking to close/divest in something then it would have to be either Namola, Irdeto, BetKing.
No comments:
Post a Comment